Question: P.S. Thanks Drill Problem 10-13 [LU 10-3 (1)] Given Principal $12,000, Interest Rate 10%, Time 240 days (use ordinary interest) Partial payments: On 100th day,
P.S. Thanks
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Drill Problem 10-13 [LU 10-3 (1)] Given Principal $12,000, Interest Rate 10%, Time 240 days (use ordinary interest) Partial payments: On 100th day, $4,200 On 180th day, $2,600 a. Use the U.S. Rule to solve for total interest cost. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Total interest cost $ 555. b. Use the U.S. Rule to solve for balances. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) On 100th day On 180th day Balance after the payment $ 555.56 $ c. Use the U.S. Rule to solve for final payment. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Final payment $
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